The Colonial Square Cooperative features units built in the 1960s as a part of the Department of Health and Human Services (HUD) initiative to develop affordable housing nationwide. This large community has 427 ranch and two-story style condominium units with 680-1236 square foot floor plans, 1-4 bedrooms, and 1- 1½ baths. Most of these units have basements, reserved parking, and a private patio or deck. The community also has unit-specific garden patches, an open common area, two children's playgrounds, and a community center.
Cooperative communities differ from other condominium-style neighborhoods because they are established as non-profit corporations whose purpose is to provide housing for their members. Individuals who wish to live in a co-op buy a “share” of the corporation which enables them to sign a proprietary lease and live within the co-op. Each member of the Colonial Square Co-op corporation is a shareholder, meaning they own a fraction of the whole community. They are enabled with the right to vote on decisions affecting the co-op and to vote for a Board of Directors to represent them.
Members living in one of the Colonial Square Co-op units pay a monthly occupancy charge. This charge pays for your city of Ann Arbor Property taxes, water, sewer, and many external and internal maintenance costs associated with living in the community.
Sold on May 1, 2023 for $140,000
2 bed, 1.0 bath, 961 sqft
3004 Wolverine Drive ..., Ann Arbor
Location:
Located approximately 4 miles south-east of Ann Arbor, at the intersection of Platt Rd. and Lorraine St., the Colonial Square Co-op units are conveniently located within a short commute to The University of Michigan’s Central Campus and downtown Ann Arbor. They are also located just north of the Interstate 23 and 94 intersection which makes them a perfect location for those commuting into the greater metro-Detroit area. Both Mitchell Elementary School and Scarlett Middle School are within walking distance. With the many amenities provided by the community and the quick commutes into Ann Arbor and out to Metro Detroit, this neighborhood has a lot to offer in one of the most affordable price ranges in the Ann Arbor area!
Neighborhood Amenities:
On-Site:
Monthly Occupancy charge covers Ann Arbor Property taxes, water, sewer, and many external and internal maintenance costs
Reserved parking spaces
Two children’s play areas
Community center
Private patios/decks
Outdoor common area
Voting rights for decisions affecting the cooperative as a whole
Off-Site:
Walking distance to Mitchell Elementary School and Scarlett Middle School
Under 5 minutes to Meijer, Kroger, Target, T.J. Maxx, Lowes, Home Depot, and TCF and Chase Banks
Under 5 minutes to Red Robin, Leo’s Coney Island, Wendy’s, White Castle, IHOP, and Steak N’ Shake
Under 5 minutes to Ann Arbor 20 IMAX Theater
5 minutes to Miles of Golf shop and driving range
5 minutes to Swift Run dog park
5 minutes to Lillie Park which has a pond popular for fishing, hiking trails, a picnic area with a pavilion and grills, a soccer field, and a children’s playground
Travel and Commute:
On the AATA bus route with a stop right in front of the entrance on Platt Rd.
4 miles and approximately 10-15 minutes from The University of Michigan Central Campus and downtown Ann Arbor
Under 5 minutes to interstate 94 and 23 access point
15-20 minutes from The University of Michigan hospital system
7 mile, approximately 15-minute commute to Saline Michigan
5 mile, approximately 11-minute commute to Ypsilanti Michigan
"Piper Partners were very helpful in telling us how the properties we were interested in fared with market value. Response time was quick and schedules were very flexible. Very helpful, knowledgeable realtors who made the home buying process fun."
- Eric Sizemore
Request more information on Colonial Square - Co-op
For immediate assistance, call or text Andy Piper with @Properties Christies International Real estate at 734-604-8242 or email him at andy@piperpartners.com.